Today's News

Vancouver, BC, February 22, 2017--(T-Net)--The BC Government reported that it has released a fifth consecutive balanced budget yesterday and citing a strong and diversified economy and prudent fiscal management.

The budget has promised approximately $87 million in new funding to promote its "expanded BC tech strategy" (see breakdown in screenshots below); which will reportedly will be spent over three years in some of the following areas:

$40 million in additional 2017/2018 funding for the Connecting BC program to extend high speed internet to remote communities and rural areas;

$14 million for Emily Carr University of Arts and Design;

$8 million for an improved "BC Net" service to increase network/internet capacity, reliability and security at about 20 post-secondary institutions;

Small Business Venture Capital Act: Increase equity tax credit budget by $3.5 million (increased from $38.5 million from $35 million) - this allows for up to $11.9 million in additional equity financing for qualifying corporations each year;

Scientific research and experimental development tax credit has been extended for 5 years until Aug 31, 2022;

BC Training Tax Credits Extended for 3 years to the end of 2020, and an extension of the training tax credit for individuals;

Allow eleligible business corporations participating in the small business venture capital program to claim interactive digital media tax credit (new);

New buildings for universities and colleges (see additional screenshot down below for details);

More on education initiatives related to its BC TECH strategy (some of it previously announced);

interest rates on stuident loans reduced to prime (from prime + 2.5%)

There is also a reduction in the small business corporate income tax rate reduced 0.5% (from 2.5% to 2.0%) not related to the above spending commitments.

The "expanded BC Tech strategy" to be expanded upon later this year.

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Editor's Note: The following text regarding some portions of the BC Government's planned tech strategy spending are "screenshots" copied and pasted directly from the primary .pdf version of the BC Budget 2017 (as the government has not appeared to provide a text version of these budget documents).

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There may possibly be a few more BC tech industry related items in the long budget document, but the above should entail most of it.

B.C.'s elected leaders and public servants are here to serve the citizens of B.C. and they're held accountable for their actions and decisions that impact residents and organizations. Learn about the different government bodies, the people that staff them and the work that they do here.